From something as minor as smashing a window to something as disastrous as a flood or a fire, you need to cover the cost of repairs to the house you've just spent so much money on.

Most lenders will insist you have home insurance in place, but you don't need to take it with them. Home insurance is a general term but in reality it's split into two separate policies.

Buildings Insurance: This can cover you financially for any damage to your building due to flood, fire or wind but depends on your provider and the level and type of cover you have. It can pay for repairs to the fabric and structure of your home. If the worst came to the worst, it could also cover the cost of completely rebuilding your house. You should check your chosen policy carefully to make sure you have the type of cover you need.

Contents Insurance: This covers the possessions in your home. This varies depending on your level of cover but could include things like the TV, furniture, pots and pans and gadgets. It can also include accidental damage, theft and loss outside the home. It's important to give extra consideration to valuable items, such as jewellery, as they may need their own provisions, as general cover might not reflect their true value. You should check your chosen policy carefully to make sure you have the type of cover you need.

How would you pay the mortgage if you became critically ill or passed away?

Life cover offered through our partner Legal & General can help make sure your mortgage is paid off if the worst happened. And you can even give yourself more cover to leave a legacy to loved ones.

In respect of life and critical illness cover the Society introduces to Legal & General. Legal & General offer a 'restricted advice' service, which means that they can only offer products and services from Legal & General and selected fund managers.

How would you manage to pay your mortgage if you became unemployed, ill or injured, or even died? There are several kinds of insurance that you could look at to safeguard your repayments.

Critical Illness: Offered through our partner Legal & General, this cover provides a cash sum if you become critically or terminally ill.

In respect of life and critical illness cover the Society introduces to Legal & General. Legal & General offer a 'restricted advice' service, which means that they can only offer products and services from Legal & General and selected fund managers.

Short Term Income Protection: If you think you’d struggle to maintain your current lifestyle in the short term if the unexpected happened, you may wish to insure your income. Think about all your outgoings; mortgage, car, household bills, childcare costs and family holidays. They all need paying somehow, even if your income is reduced.

The Society does not offer an income protection product, however, free and impartial information about protecting your income is available from the Money Advice Service. Here, you'll find information about whether income protection is the right choice for you, details about the cover and exclusions and whether alternative types of insurance are more appropriate for you. Visit www.moneyadviceservice.org.uk for impartial information.

Estate Planning

Finally, don't forget to make a will. Buying a home is a huge investment and could represent your biggest, most valuable asset. Although it might seem a long time off, it's worth making clear who you would like to inherit your home or benefit from the proceeds of its sale after you've passed away. Not knowing your intentions can cause a lot of legal problems and heartache for those left behind, so it's worth putting something in writing as soon as you can.

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Buildings and contents insurance arranged by Leeds Building Society is underwritten by Aviva Insurance Limited. Registered in Scotland, number 2116. Registered Office: Pitheavlis, Perth PH2 0NH. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Registration number 202153. Aviva Insurance Limited may decline to quote in some circumstances.

We may monitor and/or record your telephone conversations with the Society to ensure consistent service levels (including colleague training). If you are contacting us by email and not using our secure email facility, please remember not to send any personal, financial or banking information because your information isn't secure.

The products and services on this site are available to UK residents only. Mortgage applicants must be 18 years or over. Mortgages are subject to eligibility, status and financial standing.

The Society's main business is the provision of savings products, mortgages and general insurance.

Leeds Building Society is a member of the Building Societies Association.

Leeds Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Leeds Building Society is registered on the Financial Services Register under number 164992. You can check this on the FCA website at www.fca.org.uk/firms/systems-reporting/register or by calling 0800 111 6768. Buy to Let mortgages which are for business purposes are exempt from FCA Rules.